Slides in this set

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Application: Key Stuff! Deregulation Removal of Regulations Privatisation Selling a previously publicly owned organisation to the private sector Franchising A competitive system to bid for the right to provide services…read more

Slide 4

The Bus Market Transport Act (1985), aimed to: Increase steadily declining bus usage Improve economic efficiency Reduce Name fares as many as you can before you look Decrease subsidies Promote investment in new buses Increase contestability Deregulated the market outside of London Local Council owned monopolies abolished, replaced with the requirement for a VLO certificate…read more

Slide 5

The Bus Market Initially lots of new firms entered the market Competition was chaotic- "bus wars" Unfair competitive practices were used: predatory pricing and so on... Today the market is more of an oligopoly…read more

Slide 6

The Bus Market Main firms are First, Arriva, Stagecoach etc.…read more